The continuous intra-Asia deal flow in China have tempted Korean firm Shin & Kim to launch a second China office in Shanghai, four years after its debut in Beijing.
The continuous intra-Asia deal flow in China have tempted Korean firm Shin & Kim to launch a second China office in Shanghai, four years after its debut in Beijing.With its new Shanghai representative office, the firm is aiming to get closer to local clientele – both the Shanghai-based subsidiaries of Korean companies, and Chinese companies looking to invest in Korea – and target corporate, M&A and capital markets work.
Shanghai partner Byoung Seon Choe will be supported by a Chinese lawyer and lawyers from the firm’s China practice, based in Seoul.
Shin & Kim said the latest expansion was prompted by an expected growth in appetite by Korean corporate for investments in China. Trade is flourishing between the two nations – China last year became South Korea’s largest trading partner, taking 24% of its exports.
Local firms have also noted a significant amount of deals happening between China and Korea. Shanghai-based firm Chen & Co recently facilitated the acquisition of a domestic retail chain by the Lotte Group in Korea. ALB
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• Currently, ten PRC companies are listed on the Korea Stock Exchange (KRX)
• Korean lawyers note more in the pipeline for PRC companies’ IPOs on the KRX
• According to investment consultant firm Xinhua Capital, up to 40 PRC companies are preparing for listings in Korea
• Chinese SMEs are finding the KRX an attractive option because of competitive fees and Korean investors’ strong appetite for foreign equities
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Chinese companies on the KRX
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Company
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Listed
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Market
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3NOD Digital
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Aug-07
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KOSDAQ
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HuaFeng Textile
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Nov-07
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KOSPI/ HKEx
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Cowell Electronic
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Jan-08
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KOSDAQ
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Union Tech
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Dec-08
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KOSPI
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China Food Packaging
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Mar-09
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KOSDAQ
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China Ocean Resources
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May-09
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KOSPI
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China Great Star
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May-09
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KOSDAQ
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China Engine Group
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Dec- 09
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KOSDAQ
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China Hao Ran Recycling
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Feb-10
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KOSDAQ
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Related stories:
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• Shin & Kim (Beijing, Shanghai)
• Bae Kim & Lee (Beijing, Shanghai)
• DeRyook (Shanghai)
• Dong Bao Lawyer (Shenyang)
• Jisung Horizon (Shanghai)
• Lee & Ko (Beijing)
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- Firms breathe life into largest ever IPO by Korean company (13 May 2010)
- Nishimura opens first overseas office in Beijing (3 June 2010)